C.A.T. oil AG: 100% of hydraulic fracturing capacities successfully marketed for 2014

C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakhstan, today announced that it has successfully marketed its fracturing capacities. The Company’s operating subsidiary CATKoneft has been awarded a tender worth EUR 148 million (based on a rouble-to-euro exchange rate of 47) for a two-year hydraulic fracturing contract by its largest and long-standing customer Rosneft. Furthermore, CATKoneft has been awarded with an additional tender worth EUR 53 million by Slavneft-Megionneftegaz for 2014-16. Combined with already existing three-year contracts with Lukoil and Rosneft, these tender awards underpin a successful lockup of more than 60% of C.A.T. oil’s fracturing operating capacities under two- to three-year contracts. The 2014 total order book for fracturing stands at EUR 221 million, representing 100% of the Company’s fracturing capacity for the current year.

Manfred Kastner, CEO of C.A.T. oil, commented: "When it comes to hydraulic fracturing we go back to our roots: Fracturing has been the first service we offered and it is indeed an important backbone of our Company. By having secured orders worth EUR 221 million we have fully marketed our fracturing capacities for 2014. And what we are particularly pleased about is that key customers such as Rosneft have once again decided to place their trust in us by awarding multi-year tenders. The 2014 tendering campaign has entered the final straight. We are looking forward to concluding negotiations very soon thus laying the basis for another year of success for C.A.T. oil.”

www.catoilag.com